Global Ship Lease (NYSE:GSL) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Global Ship Lease (NYSE:GSL) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Separately, Jefferies Financial Group reiterated a buy rating and set a $25.00 price target on shares of Global Ship Lease in a research report on Monday, March 4th.

Global Ship Lease Stock Up 1.9 %

GSL stock opened at $22.33 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $20.44 and its 200 day simple moving average is $19.59. The stock has a market cap of $785.62 million, a PE ratio of 2.68 and a beta of 1.50. Global Ship Lease has a fifty-two week low of $16.80 and a fifty-two week high of $22.60.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.34 by $0.15. The company had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter last year, the business earned $2.14 earnings per share. As a group, sell-side analysts predict that Global Ship Lease will post 9.4 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease’s dividend payout ratio is currently 18.01%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in Global Ship Lease by 2.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock valued at $423,000 after purchasing an additional 603 shares in the last quarter. Signaturefd LLC grew its holdings in Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares during the period. Kestra Advisory Services LLC raised its position in Global Ship Lease by 12.0% in the third quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock worth $217,000 after acquiring an additional 1,264 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in Global Ship Lease by 6.5% in the 3rd quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company’s stock valued at $394,000 after acquiring an additional 1,311 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Global Ship Lease by 7.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,477 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.